What Are Telegraphic Transfers?

What Are Telegraphic Transfers?

A Telegraphic Money Transfer is a lesser-known technique of sending money. Also known as TT, it is a safe and secure means to transport money worldwide.


Telegraphic money transfers are a type that gets commonly used to move money internationally. Telegraphic Money Transfer takes typically three to 10 business days to reflect, depending on the source of the funds, the destination, and the currency exchange requirements.

How does it work?

The way telegraphic money transfers work gets determined by the destination and source of the funds. For example, money gets transmitted through the Federal Reserve System in the United States for domestic transfers. However, they get sent via the SWIFT network for Foreign Telegraphic Transfer.

The sender directs their bank to transfer money to the receiver, either online or in person. The money gets transferred from the sender's bank to the account in the recipient's country. If the recipient does not have a Bank Account with the associated bank, the funds get transferred to the receiver's account again to complete the transfer.

What is the difference between Telegraphic and Wire Transfers?

Earlier, Telegraphic Transfer happened via morse code. This enables the funds to reach without the use of actual currency. The term telegraphic money transfers are now referred to ways to send money. Such is the situation with Wire Transfers, which is a catch-all phrase for money-transfer procedures. The primary distinction is that international wire transactions are done primarily through the SWIFT network.

How do you do it?

Although the Telegraphic Fund Transfer process differs from one bank to the next, the basics are the same:

Check bank website

You can make Telegraphic Money Transfer online, depending on your bank. You find this information on their website or contact them directly.

Login to Bank Account

Go to your Bank Account and click on the Telegraphic Money Transfer section if your bank permits making this payment online. They are called Telegraphic Money Transfer, Wire Transfer, and similar. If you cannot make such payments online as the bank disallows it, approach your nearest branch.

Check the fees

Since Telegraphic Transfer to India necessitates sending money through corresponding banks like yours, double-check the fees before proceeding. While you should be aware of your bank's fees, be mindful that you are liable for bank fees. It is also good to check the ongoing currency rate.

Give necessary information

Give your recipient's name and, if necessary, their address. You also need their basic banking information, like a SWIFT or BIC code.